Research on the impact of digital transformation on financing constraints of energy enterprises
GAO Taiguang
WANG Qingqing
WANG Yukun
Abstract：With the rise of digitalization as a national strategy,digital transformation technologies provide new opportunities for energy enterprises to break the financing dilemma.Based on a comprehensive data set comprising A-share energy enterprises from 2010 to 2022.,this paper explores the impact of digital transformation on the financing constraints of energy enterprises.There is evidence that digital transformation can be an effective remedy to the financing constraints of energy enterprises,and the conclusion passes the robustness test.But the influence on it varies in different life cycle,property right nature and region.Further analysis shows that digital transformation can alleviate financing constraints by reducing the concentration of supply chain;Stock liquidity plays a moderating role in the impact of digital transformation on the financing constraints of energy enterprises.This study can provide reference value for energy enterprises to solve financing constraints in the process of digital transformation.
Keywords：digital transformationenergy enterprisesfinancing constraintsconcentration of supply chainstock liquidity
Publication Date：2025-03-28
Online Publishing Date：2025-08-15(First online date of this platform, not the publication date of the document)
Pages：9( 164-172 )